Marksans Pharma rallies 12% after board sets date to consider buyback

Shares of Marksans Pharma rallied over 12 per cent in Tuesday’s trade after the company said its board is set to consider a proposal for share buyback on July 8, 2022.

Marksans Pharma’s filing to the exchanges about the buyback proposal said a meeting of the Board of Directors of the Company is scheduled to be held on Friday, 8th July 2022 to consider the proposal for buyback of fully paid-up equity shares of the company.

At 10:05 am, the scrip traded 11 per cent higher at Rs 47.9 against its previous close of Rs 43.2. It hit the day's high of Rs 51.


The stock has given a 3-year return of 125 per cent as compared to a 35 per cent return given by Nifty Smallcap 100 and 49 per cent by Nifty Pharma in the same period.

Promoters held a 48.25 per cent stake in the firm and FIIs 3.46 per cent as of March 31, 2022.